Features

Techline

Big Mouth II

From J.M. Spencer & Co.

[MARCH 8, 2003]  Well, another year has passed, and we're still at it. All because somebody opened their big mouth at the lunch table a couple of years ago with those spine-tingling words that always cause the table to snap to attention: I've been thinking!!! These three words are tantamount to throwing down the gauntlet and are used to preface such things as, "We should get an elephant. Children would love it." However, on that fateful day it wasn't elephants, it was computers...

"We should just buy another computer and host our own … website, right here at Pond Hill from the Advisory Cabin. At least we wouldn't be paying somebody else to screw up. We could do that ourselves for free (it sure hasn't been). And while we're at it, we should use a Linux operating system with ColdFusion (a beta version, groan) to manage the databases and interface with a big honking mail server (which wasn't hacker-proof to start with, or reliable since), a forum (on the back burner), and one of those shopping gizmos for e-commerce (on the front burner). And secure access to the investment stuff for advisory clients?!"

It was a call to arms, and our knights of the lunch table bought in hook, line and sinker. However, not long after, our computer was named Big Mouth in the perpetrator's honor, and it became obvious that we were headed to the trenches for the duration. As such, Big Mouth has become a regular topic of conversation at the lunch table's daily agriculture and investment forum:

"Cows are lookin’ good."

"Yup. Pass the salad."

"Greenhouse is really comin'."

"Yep. Lookin' good."

"Student interns headed to Pond Hill from all over."

"If from Russia to Ecuador counts as all over."

"It does. Pass the bread."

"The model sure nailed the gold bottom."

"Hear, hear. Big bucks trade!!!"

"Looks like interest rates are next."

"Options could be huge to he-mung-gus."

"Right on. Dessert?"

"Thanks. How's the new guy doing?!"

Silence...

Let's backtrack. Over the last two years, the lunch-table gang has learned just enough about computer programming to be dangerous. Several additional computer languages have been added, and there have been a succession of programmers from all over the world who proved they didn't know much about Big Mouth's innards.

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However, we've finally sorted out a good team: First, the lunch-table guys carry water, do grunt work and stay out of the code. Dennis is the captain, Eric (who is building a supercomputer at MIT) is on standby for occasional heavy lifting, and Alex is the main code jockey. He's from Russia but hangs out with Crazy Billy down in South Africa. Yup, the same Billy who sent us the giraffes down in the farm store. Alex is the "new guy" on the team, and he's looking good. Matter of fact, he just maybe a superstar when it comes to multi-code computer platforms.

So, if things stay on course, we're headed for a celebration. Oh yes. A big one, and you will be invited for putting up with Big Mouth's growing pains.

This is probably a good place to apologize for some of the recent misfires: recipes that completely missed almost everybody in the database and then got sent twice or in fragments or blank. Your tolerance and encouragement has been wonderful. One reply said, "I only got half the recipe, but I like your new e-mail color, and it reminded me that I'm almost out of Hot Garlic Pepper Jelly. Please send me a case of jelly and the other half of the recipe." We did, and hopefully party invitations will not be too far behind.

Right, Alex ?!

[From J.M. Spencer & Co.]

Pond Hill Farm is open from sunup to sundown, and around the clock on the Internet. From the farm Advisory Cabin, J.M. Spencer & Co. both manages investment accounts and publishes "Speculative Economics." The farm intern program offers college-level students both practical experience in agriculture and exposure to the workings of the global financial markets.

Pond Hill Farm

5581 South Lake Shore Drive

Harbor Springs, MI  49740

1 (231) 526-FARM

1 (800) 4-UPDATE

www.pondhill.com

Here's why you've never heard of
the OTHER person who invented
the telephone

By Paul Niemann

[MARCH 6, 2003]  We all know that Alexander Graham Bell is credited with inventing the telephone, but did you know that there was another person who tried to patent a different version of the telephone on the very same day as Bell in 1876?

Born in Ohio in 1835, he was a physics professor at nearby Oberlein College and was a renowned inventor due to the musical telegraph that he invented. Little is known about him because, in what has to be one of the worst cases of being "a day late and a dollar short," he arrived at the patent office two hours after Bell arrived to apply for a patent for his version of the telephone.

His name is Elisha Gray and, as a result of arriving two hours after Bell arrived, most of the world has never heard of him.

What happened?

U.S. patent law states that the first one to invent a new product is the rightful owner of the product, regardless of who applies for a patent first. Adequate records are necessary whenever there is a dispute. Since Bell applied for his patent first, he was initially awarded the patent.

Gray did prevent the issuance of Bell's patent temporarily, however, pending a legal hearing. Since he did not keep adequate records of his design, however, he lost any possible rights, as Bell's right to the patent was later sustained by the U.S. Supreme Court, and the rest, as they say, is history.

The basis of Gray's legal action against Bell was that Bell had filed for his patent before he had a working model of his telephone, according to Inventors' Digest magazine. But the Supreme Court ruled that a person can prove that his invention is complete and ready for patenting even before a working model has been produced, a ruling that later served as a precedent on a similar type of lawsuit years later.

Gray was not the only other person to stake a claim to inventing the telephone. Daniel Drawbaugh, who was born near Harrisburg, Penn., claimed to have invented the telephone long before Bell filed a patent application in 1875. Drawbaugh didn't have any papers or records to prove his claim, though, and the Supreme Court rejected his claims by a 4-3 vote. Alexander Graham Bell, on the other hand, had kept excellent records.

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Elisha Gray did go on to invent other products, such as the facsimile telegraph system, which he patented in 1888.

Bell, who was born in Edinburgh, Scotland, in 1847, became a U.S. citizen in 1882. He went on to become one of the co-founders of the National Geographic Society, and he served as its president from 1896 to 1904.

Elisha Gray, however, has been forgotten by much of the world.

Was Bell's telephone greeted with enthusiasm by everyone at the time?

As is the case with many new inventions, there were those who rejected the telephone for one reason or another. Even President Rutherford B. Hayes was skeptical of the new device when Bell demonstrated it to him at the White House in 1876.

There was also a well-known "investor" who had an opportunity to invest in the telephone directly with Bell, but he rejected the opportunity. According to his writings, he was a big fan of new inventions, but since he had previously invested in several that had failed, he turned down a chance to invest in the telephone. Who was he? Mark Twain, who patented two of his own inventions.

[Paul Niemann]

Paul Niemann is a contributing author to Inventors' Digest magazine. He also runs MarketLaunchers.com, helping people in the marketing of their new product ideas. In addition, he teaches marketing and advertising at Quincy University. He can be reached at niemann7@aol.com.

Last week's column in LDN: "Illinois has a long history of producing successful inventors"

Agency addressing injustice in legal system celebrates 15th anniversary

[MARCH 3, 2003]  Citizens For Justice, based in Lincoln, are celebrating their 15th anniversary today, Monday, March 3. Citizens For Justice, Inc. is a legal reform group that is committed to constructive change in the legal system. They lobby both our state and federal legislators annually regarding issues such as tort reform. Lester C. Van Bibber, III serves as president of the agency.

Van Bibber explains that Citizens For Justice was born out of frustration. It was formed in response to an experience that entailed seven years of ongoing litigation in what he believed was an unjust legal system gone wild. After that, he said, "We decided to organize a group of dedicated citizens who had experienced similar injustices and began donating time and energy to improving the legal system."

After research at the public library we learned about the ARDC, the Attorney Registration and Disciplinary Commission, an agency that disciplines attorneys, Van Bibber said. The group also discovered the JIB, the Judicial Inquiry Board, an agency that disciplines judges. By encouraging utilization of the ARDC and the JIB, we believe changes for the improvement of the local legal system will occur more rapidly, he said.

Changes to improve the legal system are what Citizens For Justice is all about. They say they have discovered and are continuing to discover avenues for constructive change.

This year the group's focus was directed at our federal legislators. They worked to introduce legislation that will limit lawsuits on businesses with 50 or fewer employees. "We believe this is very important because it is businesses and industry of this size that now creates 90 percent of the new jobs in America," Van Bibber said.

He explained: We are asking that a cap be placed on punitive damages at three times the compensatory damage award. We also believe that punitive awards should go to each state’s general fund and not to the plaintiffs and the plaintiffs’ attorney, because punitive damages are meant to punish and deter, very similar in purpose to criminal fines. The plaintiffs don't receive any of the criminal fine money which is received, for the same reason as punitive damage.

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"We believe this law will also help businesses and industry of all sizes," he said.

Van Bibber asks, "Why should attorneys be allowed a substantial share of the punitive damages as fees anyway, since no one has appointed attorneys as representatives of the republic to mete out punishment to the country’s businesses and citizens?"

Van Bibber said, "In 1988 I made a personal commitment to be a voice or a spokesperson and watchdog during the rest of my life, for those in our community who are poor, uneducated, widowed, those who may have given up on life or maybe are part of the silent majority regarding issues of importance that will affect them, like sales tax increases, fee increases, property tax increases, utility rate increases, etc."

"History will judge all of us on how we treat those on the bottom half of the ladder of success. I want it said that I, Les Van Bibber, was part of the solution and not part of the problem."

We believe your support with our efforts will make this great city, county, state and country a better place to live and prosper for everyone, he added.

[Press release and LDN]

Is this the right time
to go into business?

By Jim Youngquist

[FEB. 28, 2003]  Tough times continue to be upon us in the small-business community. Our lagging national economy has certainly been hard on small and large businesses here in the Midwest over the last two years. Every business has felt the crunch, and many have been forced to fold. Even the most stable business has suffered from diminished cash flow, diminished profits and greater competition cutting up a much smaller pie. Business analysts are split on when the recovery will come, and the stock market reflects the public's greatly diminished confidence in business' ability to recover.

In light of this dismal economy, what do you do if you have entrepreneurial ideas and urges? Is this a good time to start a business? Do you wait? Do you discard your plans? Do you purge your urge?

In my experience, downbeat economic times can actually be an excellent time to start a new business. Over my lifetime I have started five businesses, still am running three of them, and have helped many other people start businesses during economically blue times. The secret to success may not be in your analysis of the business climate as much as having the right method and planning for your upcoming enterprise.

First of all, during a downbeat economy, business is generally at the bottom. Everything is usually up from there! If you start a business in that climate with conservative efforts, very conservative money, and survive while business is bad, most likely your business will thrive when economic times get better. The key here is to start with a well-organized business plan that is reliant on very conservative projections and very conservative spending to accomplish your goals. And when the economy gets better, stick to your conservative plan with conservative expansion, because an upbeat economy is a short-lived thing.

Second, start small and grow it. Most businesses are begun on a shoestring: tiny little enterprises that grow out of personal interests or hobbies. They get started while you don't have to rely on them for income. You establish a product line, network with suppliers, gather customers and plan for the future in your spare time, with little capital, and allow the profits to fund business expansion. This is the safest way to start a business, and it is one of the most successful. So, don't quit your day job, and begin planning your tiny little business startup.

Third, research your business ideas and the competition thoroughly. Know what everyone else is doing in your field and in your geographic area. Research what other businesses outside your area are doing and how they have been successful. The more you know about your upcoming enterprise and how everyone else is doing it, the more chance you have to be successful. And the research does not end there. It is one thing to start a successful enterprise, it is another to keep it successful. Continued product, service and competition research is a necessity in business.

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Fourth, and most important, every business must have a detailed, written business plan. Take the time to detail what you will sell, what you will do, who will be your customers and who will be your suppliers. Include details in your business plan about how you will obtain financing if necessary and when you will hire employees. Use very conservative projections as you develop this plan. And then, when you think your business idea is down on paper, take it to the business experts to get their opinions and their help to make your dream come true. Take it to the local chamber of commerce, to your banker and perhaps even to the mayor of your city or village. Ask them to keep the information confidential before you present it because you don't want to tip off your potential competition. With all these business "promoters" on your side, you now have some allies, some potential customers and some good advice.

As your business continues to grow and change over the years, your written business plan must continue to reflect your current business, the market and the economy. You must continue to update your plan and use it to guide and restrict your steps.

Finally, choose something that's different from what everyone else is doing. These are difficult economic times. Competition for customers has forced prices and profits down to the point where the heartiest businesses have a hard time surviving. If you are selling a product or providing a service, do it in a way that the competition hasn't thought of. Forget about making a mint providing regular commodities: Everybody else has the same stuff, and someone is always selling for less than you. Lowest price generally attracts the most customers. So, predicate your business on a product or service that is exclusive and has a chance of maintaining an adequate profit margin. Be unique and be successful!

Don't allow other people's pessimistic attitudes to smash your dreams or put your plans on hold. Good planning, a positive attitude and lotsa elbow grease can usually make a good business plan succeed. Attitude leads!

[Jim Youngquist]

Announcements

The Chamber Report

Chamber's annual dinner initiates Legion facility

[FEB. 27, 2003]  Chris Coyne of State Farm Insurance and Barbie Carter of Logan County Bank were recognized as king and queen of the Lincoln/Logan County Chamber of Commerce's Mardi Gras-style annual dinner. The dinner Saturday night, Feb. 15, was the first event to be held in the new American Legion Hall.

Mary Conrady, manager of the Lincoln CEFCU office and immediate past president of the chamber board of directors, reviewed chamber accomplishments for the past year. Twenty-two new members were inducted into the chamber, 27 traditional ribbon-cutting ceremonies were conducted by the Ambassadors, and eight chamber businesses hosted after-hours mixers. In addition to the "Meet the State Candidates" breakfast, morning programs focused on technology tips and advice for owners of small businesses.

Continuing to bring agriculture and business leaders together, the chamber organized the third annual Logan County Ag Day breakfast and hosted a chamber mixer on a farm. Quality-of-life community events organized by the chamber included a luncheon for office professionals, the Lincoln Art & Balloon Festival, a golf outing, and the Christmas parade. Local trade was promoted through the Chamber Bucks program and cable TV exposure.

"If I had to choose one accomplishment over the past year that stands above all others," said Conrady, "it would have to be the community video that was produced by the chamber's marketing committee. The video is a powerful tool to attract businesses, individuals or families to locate here."

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Conrady then introduced the new chamber president, Brian Ash of Logan County Bank. Ash unveiled his theme for the coming year, "Planting Seeds for Progress." "The actions we take today will have an impact on tomorrow," he said. "We have already taken steps for our future within the chamber. Our director, Bobbi Abbott, recently completed the four-year Institute for Organizational Management certification, and we have added Jeff Mayfield as economic development director and Senator Bob Madigan as government liaison. We're ready to grow the economy!"

Ash introduced new chamber board members Diane Van Dorn-Slack of Midwest Records Storage; Ed Block, Saint-Gobain Containers; Rick Hamm, State Farm Insurance; and Steve Smith, Illinois American Water Company. Conrady recognized retiring board members Todd Lowman of Garland Gehrke Trucking and Terry Werth from the Logan County Board.

[Press release]

Lincoln/Logan County Chamber of Commerce

Bobbi Abbott, Executive Director

303 S. Kickapoo St.

Lincoln, IL 62656

(217) 735-2385

chamber@lincolnillinois.com
www.lincolnillinois.com

Honors & Awards

Main Street Corner News

Main Street Lincoln offers
business start-up monies

[FEB. 17, 2003]  To entice new businesses to open in downtown Lincoln, Main Street Lincoln is offering financial assistance through a $20,000 grant from Illinois FIRST.

Eligible businesses must locate in Lincoln's Courthouse Square Historic District and have a business plan based on the Small Business Administration model.

The Business Builder Fund is aimed at new businesses that need financial assistance to get started. Funds are available to business owners who would not be able to meet bank loan down-payment requirements without these funds. The grants will provide no more than one-third of the equity or down payment for a bank loan, or a maximum of $10,000.

Application for the grant is made as part of the business loan application process at participating lending institutions. A lending institution recommendation is required for the award of this grant.

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"We are offering this money to encourage people who would like to own a business but don't have the financial means to get started," noted Dale Bassi, chairman of the Main Street Lincoln Economic Restructuring Committee. "Downtown Lincoln is a great place to open a business, with its mix of retail and service businesses and restaurants," he added.

For more information about the grant and available property in the historic district, contact Cindy McLaughlin at Main Street Lincoln, (217) 732-2929.

[Main Street Lincoln press release]

[Click here for more details from an earlier posting in LDN.]

Main Street Lincoln

Cindy McLaughlin, Program Manager

303 S. Kickapoo

Lincoln, IL 62656

Phone: (217) 732-2929

Fax: (217) 735-9205

E-mail: manager@mainstreetlincoln.com